Suncorp drop fixed investor rates, Gateway products get CANSTAR tick

Non-major lender Suncorp has unveiled a number of discounts on its investor and owner occupier loan products in response to being awarded Bank of the Year – Fixed Rate Home Loan by CANSTAR.

Effective from today (12 September), the bank's Investment Home Package Plus two and three year fixed rates will drop by 0.20% p.a. and 0.30% p.a. respectively, bringing both rates to 4.29% p.a.

In addition to the fixed rate award, Suncorp also received a five star rating for two of its home loan products:

• Bank to Basics Owner Occupied Construction Loan
• Home Package Plus Owner Occupied Fixed Rate Loan

“The CANSTAR award and five star ratings are further confirmation that we are offering products that deliver value for our customers,” said Suncorp banking & wealth CEO David Carter.

“In June this year, we announced some changes to interest rates to give additional support to customers in the owner-occupied market, and from today I am pleased to say we will go further.

“This is a reflection of recent reductions to fixed rate funding costs, allowing us to lower our two most popular fixed rate loan products for investors.”

The rate changes and special offers come into effect in what is traditionally a busy season for home buyers, he added.

“Customers who take advantage of these offers will also have the convenience of being able to access more than 3,300 fee-free ATM’s, as part of Suncorp’s new partnership with the rediATM network.”

Gateway Credit Union has earned 5-star ratings from CANSTAR for some home loan products.

Gateway’s Premium Package Home Loan for both owner-occupier and investment as well as the Premium Package 5-Year Fixed Rate Home Loan for both owner-occupier and investment have earned the rating

Paul Thomas, Gateway CEO, said the 5-star rating proved the leading credit union was a strong contender in the market.

“This is another great achievement for Gateway, especially in light of the competitive landscape in which the home loan market currently operates in," he said.

"This endorsement from CANSTAR is another feather we can stick in our cap when it comes to our ability to provide home loan products that offer value, flexibility and innovation,” said Mr Thomas.

Gateway won Mozo’s Australia’s Best Credit Union 2017 for the second consecutive year.